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Tags: copper prices,  aluminum prices,  lead prices,  aluminium circle,  tin prices,  nickel prices

SHANGHAI, Dec. 1 (SMM)-- Copper: Copper for February delivery on the Shanghai Futures Exchange, the most active contract, dipped to RMB 46,450/mt during Thursday's night session after starting at RMB 46,600/mt. The price of the SHFE 1502 copper contract ended down RMB 160/mt at RMB 46,500/mt. During the night session, trading volumes for the most active contract edged up to some 150,000 lots, and positions spiked by 20,068 lots. SHFE copper initially fell to RMB 45,830/mt and rebounded to RMB 46,150/mt in the afternoon trading session before ending down RMB 670/mt, or 1.44%, at RMB 45,990/mt. Trading volumes for the most active contract gained by 274,000 lots, while positions added by 67,896 lots. Trading volumes for the SHFE 1503 copper contract expanded by 78,082 lots, while positions increased by 33,034 lots. Spot copper in Shanghai was quoted Friday at a RMB 100-180/mt premium to the SHFE 1412 copper contract. Standard- and high-quality copper sold for RMB 46,930-47,200/mt and RMB 46,970-47,270/mt, respectively. SHFE copper lead other base metals down on Friday. Copper supply was abundant due to outflows of hedged goods, allowing little upward room for spot premiums. Speculative traders were active in the morning trading, but slowed operations after SHFE copper leveled out by the midday. The price of standard-quality copper remained on par with that of high-quality copper. Middlemen with sufficient cash flows went bargain-hunting, while some large downstream producers become more willing to buy at low prices. Trading activity improved on Friday.

from metal.com